For Debtors,which of the Following Is an Advantage of Chapter

question 99

Multiple Choice

For debtors,which of the following is an advantage of Chapter 13 over Chapter 7?

• A) It grants discharge of debt incurred prior to the date of the order for relief.
• B) It allows debtors to start a new life without the burden of prepetition debts.
• C) It prevents debtors from paying prepetition debts out of postpetition income.
• D) It helps debtors retain more property than is exempt under Chapter 7.

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Definitions:

Merger Clause

A contract clause providing that the written contract is the complete expression of the parties’ agreement. Also called integration clause.

Integration Clause

A provision in a contract that declares it to be the complete and final agreement between the parties, superseding all prior discussions or agreements.

Statute of Frauds

A legal principle requiring certain types of contracts to be executed in writing and signed by all parties to be enforceable.

Real Estate

Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature.